Masters in Economics in USA: Top Universities, Requirements, Jobs
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Studying a Master’s in Economics in USA is the second most opted course after an MBA in the USA. The master’s course in Economics is also offered as a STEM course in the USA, usually termed an MS or MSc in Economics. Thousands of international students pursue a masters in US universities after graduation and Business and Economics plus STEM-related subjects are usually preferred.
Since the Economics course at the PG level is considered a STEM course, the applicants will get the benefit of staying back options in the USA. All major details about US universities offering Master's in Economics have been discussed in detail in the article below.
Master’s in Economics in USA Highlights
| Universities offering Master’s in Economics |
130+ |
| Types of Economics Courses |
MA, MS and MSc |
| Popular Dual Degree Options |
Business Economics + MBA & Economics |
| Duration of Course |
1 - 2 years |
| Average Annual Tuition Fee |
USD 30,000 - USD 120,000 |
| Popular Job Roles |
Analyst, Economist, Investment Banker, etc. |
| Admission Requirements |
Bachelor’s degree + GRE/GMAT + ELP scores |
| Scholarships |
Available |
| Top Employers |
Apple, EY, Goldman Sachs, BCG, and others |
| Highest Compensation Offered |
USD 214,182 |
Pursuing Master’s in Economics in USA
There are several reasons why one should pursue a master's in economics in the USA, be it for networking, good job opportunities or even better remuneration. Following is a list of reasons to consider if wish to pursue a Master’s in Economics in the USA:
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- There are different types of Economics to pursue like - MA or MS or MSc or even a specialization of MBA in the USA or Applied Economics too.
- US universities like Johns Hopkins University offer Master’s in Economics in these areas of specialization too like Environmental economics, Financial economics, Health economics, International economics and development, Spatial economics and Public policy. Any one of these can be opted by applicants.
- If the Master’s in Economics in the USA is offered under STEM education, then applicants can opt for STEM OPT extension available for F-1 visa holders in the USA.
- Applicants can look for various lucrative job opportunities after completing their master’s in Economics from the USA and can earn anywhere between USD 79,000 to USD 114,000 per annum.
- Also, Economics postgraduates in the USA can get an opportunity to work with leading technological companies and also look forward to working with financial services offering companies as well.
Apart from all the above-enlisted reasons, one major reason to pursue a Master’s in Economics in the USA is because the USA is one of the biggest economies in the world and there are ample opportunities for bright minds in the US itself.
Best Universities for Masters in Economics in USA
As per US News & World Report for the category ‘Best Economics Schools’ rankings for the year 2023-24 have been released. The rankings are as follows for only US universities offering Economics courses:
| Economics Schools in the USA |
US News & World Report -‘Best Economics Schools’ Rankings 2023-24 |
|---|---|
| #1 |
|
| #4 |
|
| #8 |
|
| #9 |
|
Masters in Economics in USA Requirements
Those applying for a master’s in Economics as international students will have to fulfil the following requirements:
- Transcripts and mark sheets if needed
- GPA of 3.0 or above on a 4.0 point scale in bachelor’s degree
- GRE or GMAT scores if required by the university in question
- ELP scores of either - TOEFL / Duolingo / IELTS
- Academic essays
- Statement of purpose (SOP)
- 2-3 letters of recommendation if required at the university
- A completed application form with the requisite fee
Please note, that the application process for admissions to Master’s in Economics courses may vary per university and the departments offering these courses.
Masters in Economics in USA Without GRE
There are a couple of US universities offering Master’s in Economics which do not require GRE scores. These universities are as follows:
- MIT
- University of Wisconsin - Madison
- Ohio University
- DePaul University
- Southern Methodist University (if GPA is above 3.0)
- California State University - LA
There may be other universities as well that offer MS in the USA without GRE scores, but there may be a few that will waive the GRE for those who have met a certain GPA score or completed certain credits and may not be universally available for all students at large. Also, check out the top universities in the USA without the GRE.
Salaries for Master’s in Economics Grads in the US
For those who wish to make a career after pursuing a Master’s in Economics from the USA can go for the following job roles with their corresponding median wages:
| Popular Job Roles after MA/MS in Economics in the USA |
Median Wages for Master’s in Economics in US Grads |
|---|---|
| Economists |
USD 114,262 |
| Data Scientists |
USD 102,805 |
| Statisticians |
USD 98,189 |
| Financial & Investment Analysts |
USD 94,605 |
| Operations Research Analysts |
USD 85,701 |
| Budget Analysts |
USD 82,264 |
| Postsecondary Economics Teachers |
USD 79,219 |
| Financial Quantitative Analysts |
USD 73,473 |
(Source: Light cast)
Apart from the above-given job roles, a few job sectors can be considered after an MA in Economics in the USA, like:
- Banking & Finance
- Insurance
- Data Analytics
- Forecasting
- Labor Arbitration
- Higher Education and Research
- Regulation
- Urban and Regional Planning
Top Employers for Master’s in Economics in the USA
Some of the most popular employers that have visited the US universities to employ graduates of Master’s in Economics have been tabulated below:
| Top Employers for Master’s in Economics in USA |
|||
|---|---|---|---|
| Apple |
Deloitte |
|
IBM |
| Boston Consulting Group (BCG) |
HSBC |
PayPal |
EY |
| Time Magazine |
AIG |
American Express |
PwC |
| Bloomberg Communications |
McKinsey & Company |
Amazon |
Oxford Economics |
| Credit Suisse |
Morgan Stanley |
Deutsche Bank |
Goldman Sachs |
| The World Bank |
Huawei |
IMF |
BlackRock |
For more queries, comment to us in the section below or consult with our team of counsellors at Shiksha Study Abroad Counselling by signing up on the link.
Q: What GPA is required for the University of South Dakota?
The University of South Dakota expects a GPA score of 2.5 from undergraduates and 3 from postgraduates on the 4-pointer scale. Along with the GPA scores, undergraduates must meet the basic eligibility and submit an ACT score of 21 or higher and an SAT score of 1070 or higher. In addition, they must submit the required documents, such as academic history, transcripts, letters of recommendation, English language scores, and more.
Q: What GPA is needed to go to Ohio State?
There is no minimum GPA score for UG admission at Ohio State. However, International students must have a cumulative GPA of at least 3.0 (on a 4.0 scale or equivalent) for graduate admission. Applicants may submit a standardized test score (GRE or GMAT) if their cumulative GPA is below 3.0 for the last degree.
Q: Is it hard to get into the UTSA in San Antonio Texas?
According to various sources, University of Texas San Antonio has an overall acceptance rate of around 87% which makes it somewhat selective for international student admissions. Some of the general requirements to be considered for admission are given as follows:
- SAT/ACT scores
- Overall Student's GPA
- Letters of Recommendation
- High School Class Rank
- Additional Academic Records
Q: Is University of North Dakota good for Indian students?
The University of North Dakota is one of the top choices for international students to pursue their higher education. The UND warmly welcomes its international students as they have contributed a lot to the success of the university. Moreover, the university offers a top-notch environment, the best academic opportunities, technical & career training, etc. The university boasts over 1000 international students who represent more than 95 countries. Additionally, international students highly enjoy the facilities provided by the University of North Dakota. The UND is one of the largest research universities in the United States for international students.
Q: How much is the application fee for Alabama University?
The Alabama University application fee for International students vary by application type. Mentioned below are the application fee for UG and PG applications at Alabama:
- UG: USD 40 or INR 3,342.14
- MBA: USD 80 or INR 6,684.28
Q: Can I get into Oregon State with a 3.5 GPA?
International students must have at least a GPA between 2.5 and 3.0 on a scale of 4.0 for UG and PG admission at Oregon State. Therefore, candidates are eligible to get admission to the university with a 3.5 GPA in their academics. Oregon State University GPA requirements are different for undergraduate and graduate admission. Mentioned below is the range of GPA required for Oregon State University admissions:
| Program | Minimum GPA Required (on a scale of 4.0) |
|---|---|
| Undergraduate | 2.5 - 3.0 |
| Graduate | 2.5 - 3.0 |
Read about the Grading System in the USA
Q: What is Northwest Missouri acceptance rate?
The Northwest Missouri acceptance rate for international students is around 80%. This shows that the university follows a moderate selection criteria when it comes to admission. However, the moderate selection criteria does not imply that the university accepts every application. International students must showcase their excellent academic performance, score high GPA, submit standardized test scores and English language proficiency test scores. In addition, if a student has a history of participation in relevant extracurricular or experience, their selection probability increases by 50%.
Q: What GPA do I need to get into Northwest Missouri state?
Northwest Missouri State University expects a cumulative GPA of 2 for UG programs and 3 for PG programs on a scale of 4. GPA is one of the top factors when considering students for university admissions. Along with GPA, the university expects a student to provide high school transcripts from previously attended university or school, standardized test scores, English language proficiency test scores, and more. In addition, students with relevant experience in the chosen field are preferred over the studious students.
Aishwarya is a professional Writer currently working as a Study Abroad Expert in the Editorial Team at Shiksha. She has over 5 years of experience and is skilled at creating Online Content with leveraged knowledge i... Read Full Bio
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